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Dec 7, 2012
12/12
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cliff and to make a deal without giving up growth principles. but when you say conservatives don't support boehner, what is eric cantor, what is paul ryan? what is jeb henesling if he's not a conservative? what is tom price if he's not a conservative? what exactly are you smoking? the top conservatives in the house support boehner. >> well, i actually don't think that somebody like tom price would if he has his choice of who he could pick out of everyone. we should have the power of self-determination. we shouldn't get seniority decide, this person should be the next person -- >> look. he is running the house. he's the speaker of the house. you confuse that with running the conservative movement. >> well, then why don't you come out and say, we shouldn't raise taxes. boehner came out and said we should raise taxes. >> i think boehner is doing the best he can to prevent marginal tax rates from rising. i think that's a very noble cause after conservatives and republicans lost in the last election. i think boehner's done the exact right thing. >> i
cliff and to make a deal without giving up growth principles. but when you say conservatives don't support boehner, what is eric cantor, what is paul ryan? what is jeb henesling if he's not a conservative? what is tom price if he's not a conservative? what exactly are you smoking? the top conservatives in the house support boehner. >> well, i actually don't think that somebody like tom price would if he has his choice of who he could pick out of everyone. we should have the power of...
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Dec 5, 2012
12/12
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henry kravis says the fiscal cliff is main reason investing isn't happening. he says many companies are rushing to close deals before the end of the year because they're concerned about whether capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue and if businessmen go into the room they could solve the problem an awful lot faster than congress. ken cayman is president of macadian asset management. i presume you share the sentiments -- i think we probably all do share the sentiments of mr. kravis. what would you do? >> well, listen, i think when you look at how businessmen make decisions, they have to live with the outcome of the decisions. politicians unfortunately make one decision, move on, and make another one. they don't live and die by any one decision. so i actually agree. ic that if all they did was have to focus on this one issue, we'd get a better result. but that's not the way government works. they get briefed on economic stuff one minute and they run into a meeting and get briefed on the mating habits of a spotted owl or s
henry kravis says the fiscal cliff is main reason investing isn't happening. he says many companies are rushing to close deals before the end of the year because they're concerned about whether capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue and if businessmen go into the room they could solve the problem an awful lot faster than congress. ken cayman is president of macadian asset management. i presume you share the sentiments -- i think we probably all do share...
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Dec 11, 2012
12/12
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optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so many basis points above the germans on their hourly bulletins. that was one of the reasons why at the height of it berlusconi was kicked out of power. he's saying now this is a total calm. italia
optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the...
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Dec 6, 2012
12/12
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important thing moving on about the fiscal cliff. the biggest story passed around here this morning was the politico article where they finally put a name on making a deal. the 37% solution, just split the difference between 35.6% and 39.6% increasing taxes and call it the 37% solution. that's the article everybody's been passing around today. on apple, just a quick note on apple here, there was as many notes out as there were analysts on apple. the main point on it is that most agree is that concern on iphone sales are the number one problem. att made a comment yesterday, that basically sales were the same as last year than the first sales of the --. a lot of t back to you guys. >> actually, i would be encouraged if i were an apple shareholder that the stock actually opened down today. if there's any hope. italian bonds getting hit today too. of course worth keeping track of. okay, let's shift the bonds into dollars. >> we're going to stick with that european theme and when bob pisani says central banks and activism in the same sen
important thing moving on about the fiscal cliff. the biggest story passed around here this morning was the politico article where they finally put a name on making a deal. the 37% solution, just split the difference between 35.6% and 39.6% increasing taxes and call it the 37% solution. that's the article everybody's been passing around today. on apple, just a quick note on apple here, there was as many notes out as there were analysts on apple. the main point on it is that most agree is that...
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Dec 10, 2012
12/12
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better than expected retailers, in the end when it come to the fiscal cliff, to the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what everybody wants. does matter, believe he, i mean what's going to happen if we do nothing except keep things exacthe they are now, and just vote to undo the cliff. they'll downgrade the u.s. debt. but that's it. by the way, we have already proven through nine ways of sunday that -- when our credit rating got downgraded last summer. well, bonds went up in price and down in-year-old. -- in yield. so why not do nothing? why doesn't the president say we're just going to keep bonds the way they are. and we're not going to cut entitlements because we know if we don't cut taxes, the republicans will go along with their no tax pledge and the markets will go higher and no one will care, for now. but he told us that's not going to happen, and he got re-elected. what does
better than expected retailers, in the end when it come to the fiscal cliff, to the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that does nothing, it simply keeps taxes where they are right now and doesn't cut entitlements, that's what everybody wants. does matter, believe he, i mean what's going to happen if we do nothing except keep things exacthe they are now, and just vote to undo the cliff....
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Dec 12, 2012
12/12
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to avoid the fiscal cliff. all thousand i did hear quite encouraging some of the guys were saying no vacation legislation. they're getting that part of the game plan. after a week's worth of rally in part driven by hopes that the deal could be made. who can blame people for taking profits when the fed chief takes action spurred in mind because the man who invented the fiscal cliff seems to think the odds are high here we're going of it. there's always a constituency unhappy at any bold action. we heard the fed's actions were reckless, feckless, irresponsibility. other concerns that things might be far worse than we think. the fed has given up on any chance that our leaders will rise above this morass. i think bernanke is the only grown up in the whoa town. he wants to get a deal to balance the budget longer term in order to get the economy going now. you know he can't do anything to get a deal himself. so he's giving us the beflt alternative he's got out there to the ridiculous partisanship. entitlement spendin
to avoid the fiscal cliff. all thousand i did hear quite encouraging some of the guys were saying no vacation legislation. they're getting that part of the game plan. after a week's worth of rally in part driven by hopes that the deal could be made. who can blame people for taking profits when the fed chief takes action spurred in mind because the man who invented the fiscal cliff seems to think the odds are high here we're going of it. there's always a constituency unhappy at any bold action....
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Dec 13, 2012
12/12
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be optimistic and rise above, we deal with the fiscal cliff, then the fiscal abyss. the fed keeps us sort of above stall speed and then we do some structural things, would that work? >> that's -- joe, that's exactly what we're all hoping for. we hope that republicans and democrats, the congress, the administration, can enact bold structural reforms to make the economy more growth oriented. and you know, live within our means. manage our budgets. if we can do that, then the fed is building a bridge to the congress. >> you talking about the congress? >> pardon me? >> live within our means and manage our budgets? are you talking about the congress? >> well, you know, we've done it in the past. we can all be very bearish on our political system. but our political system over the long-term works. republicans and democrats have come together before, have made tough choices. if we can do it again, then bernanke's actions are not going to be for naught. they're going to be buying time for leaders in washington to take over. but if leaders in washington don't take over, then
be optimistic and rise above, we deal with the fiscal cliff, then the fiscal abyss. the fed keeps us sort of above stall speed and then we do some structural things, would that work? >> that's -- joe, that's exactly what we're all hoping for. we hope that republicans and democrats, the congress, the administration, can enact bold structural reforms to make the economy more growth oriented. and you know, live within our means. manage our budgets. if we can do that, then the fed is building...
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Dec 10, 2012
12/12
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first of all, we talk about the fiscal cliff all the time. we know it's a big deal. but maybe there are some signs that it's an even bigger deal at this point. there's a story on the money section of the "usa today" talking about investors peering over the cliff at this point. the markets have kind of hung in. now there is this concern that if there's not some sort of movement, or some signs of movement pretty quickly, maybe the market also react. and then there's also the story on the front page of "the wall street journal" talking about how consumer spending is finally showing some signs of cracks. now we know that when first -- we first saw things starting out right after thanksgiving it was pretty strong sales. now the reports have been more mixed. on friday there was a preliminary measure of consumer sentiment from the university of michigan that showed a big drop after four months of gains. i can't help but wonder if that's because of all the coverage of the fiscal cliff and how much it plays into the news media. at this point maybe that's a sign for washington
first of all, we talk about the fiscal cliff all the time. we know it's a big deal. but maybe there are some signs that it's an even bigger deal at this point. there's a story on the money section of the "usa today" talking about investors peering over the cliff at this point. the markets have kind of hung in. now there is this concern that if there's not some sort of movement, or some signs of movement pretty quickly, maybe the market also react. and then there's also the story on...
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Dec 13, 2012
12/12
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cliff tax hikes. where's the largic of this position or is it just hypocritical sweetheart deal stuff? >> i don't agree it's a tax killer. the taxes are put into place that the sectors of health care benefit reform, insurers, hospital, medical device companies hoar going to see gain when you have 30 million americans going into the health care system that they also help keep the law sustainable. >> but, wait, i don't understand. we're talking about taxes. come back to the main point. the main point is why are these 18 democrats suddenly opposed to a job killing tax, particularly elizabeth warren, particularly al franken, who are two lefty liberals who love high taxes. is it because, a, they've seen the logic of supply side economics or, b, they're hypocrites because they're just trying to protect their own companies in their own states? >> they have the medical device lobby in their back yard, that's who they're listening to. if they don't want to do this tax, bits $30 billion over ten years to fund t
cliff tax hikes. where's the largic of this position or is it just hypocritical sweetheart deal stuff? >> i don't agree it's a tax killer. the taxes are put into place that the sectors of health care benefit reform, insurers, hospital, medical device companies hoar going to see gain when you have 30 million americans going into the health care system that they also help keep the law sustainable. >> but, wait, i don't understand. we're talking about taxes. come back to the main...
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Dec 7, 2012
12/12
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my feeling is with the fiscal cliff looming to the point where it's now mainstream that your take-home pay is going to be reduced by a shocking amount in one month if there's no deal. things ain't getting better. which is why this lulu lemmon number yesterday was astounding. it's so astounding. we have to go through the usual rigamarole to see it, though. first they had a spectacular 18% comparable same-store sales gain. the stores last year, they beat them by 18%. the best i've seen from any company that has hit my eyes in the last three months. by the way, that's coupled with some terrific gross margins. it looked like it was enough to send the stock to the low 70s instantly from the high 60s before it reported. but the downbeat high single-digit comp store projections, mentioned later in the earnings release, stopped the elf in its tracks, reversed it, and the stock dropped to the mid 60s almost instantly, again, all before the market was open. and there it lay until the conference call began. on that call you realized very quickly five things about lulu that no other company has. f
my feeling is with the fiscal cliff looming to the point where it's now mainstream that your take-home pay is going to be reduced by a shocking amount in one month if there's no deal. things ain't getting better. which is why this lulu lemmon number yesterday was astounding. it's so astounding. we have to go through the usual rigamarole to see it, though. first they had a spectacular 18% comparable same-store sales gain. the stores last year, they beat them by 18%. the best i've seen from any...
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Dec 6, 2012
12/12
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as soon as the holidays end, we're most likely going to go over the fiscal cliff. something that could crush the consumer. all of which means it's a very confusing moment. we want to stick with best of breed that can come bouncing back whenever our leaders reach a deal. companies like ascena retail group, asna. formally known as dress barn. we've been fans because they have a terrific model. own multiple niche brands, maurice's for 20-something women, dress barn, appeals to a more middle aged woman, and charming shops, giving them two successful plus-sized chains. i believe in this deal because they have a record of making transitions work. the stock got slammed today, falling 4.3%, they delivered a four-cent earnings beat, revenues were in line, but still rose 48% year-over-year. and they reaffirmed their guidance for 2013, numbers slightly less than what some on wall street were expecting. what happened here, i think, is the stock ran 35% for the year. expectations got to elevated for some, well, they say they were disappointed. let's talk to the president and ce
as soon as the holidays end, we're most likely going to go over the fiscal cliff. something that could crush the consumer. all of which means it's a very confusing moment. we want to stick with best of breed that can come bouncing back whenever our leaders reach a deal. companies like ascena retail group, asna. formally known as dress barn. we've been fans because they have a terrific model. own multiple niche brands, maurice's for 20-something women, dress barn, appeals to a more middle aged...
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Dec 12, 2012
12/12
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we are in the midst, as we all know, in the fiscal cliff cliff. i'm hoping for this audience, if you could, try to handicap what you think will happen over the next two weeks. >> first, let me give you what's important here. we could go off the cliff which will create enormous problems. i see a lot of people that say it won't be a big deal, it might be a big deal. we could have rational policy and i think the country could take off. i think it's a big deal to do it right, save jobs, get the country going again and return confidence in the united states and globally. i don't know the odds. i think the odds is the prosecution -- politicians sometimes between december 21st and 28 will do something. they will wait follow the last minute because everybody has to make sure they have the last ounce of blood. >> what does the other side of the cliff look like? is it a cliff or bunny slope? how do you think about this? >> i put it in the irrational category and irresponsible. you could easily say, go off, not a big deal. it may not be as big a deal as peop
we are in the midst, as we all know, in the fiscal cliff cliff. i'm hoping for this audience, if you could, try to handicap what you think will happen over the next two weeks. >> first, let me give you what's important here. we could go off the cliff which will create enormous problems. i see a lot of people that say it won't be a big deal, it might be a big deal. we could have rational policy and i think the country could take off. i think it's a big deal to do it right, save jobs, get...